Disqualifications for appointment as member.

The term of office and other conditions of service of the members shall be office and such as may be prescribed. A person shall be disqualified for being appointed as a member if he - (a) has been convicted and sentenced to imprisonment for an offence which, in the opinion of the Central Government, involves moral turpitude; or (b) is an undischarged insolvent; or (c ) is of unsound mind and stands so declared by a competent Court; or (d) has been removed or dismissed from the service of the Government or a corporation owned or controlled by the Government; or (e) has, in the opinion of the Central Government, such financial or other interest in the Authority as is likely to affect prejudicially the discharge by him of his functions as a member.